The Union Government has extended a 14-year old popular export incentive scheme; the Duty Entitlement Pass Book (DEPB) till September 2011.
"The DEBP scheme was supposed to end on June 30, which we have extended till September 30. However, in September, the scheme will be replaced with a duty drawback", said Sunil Mitra – Finance Secretary.
Under the scheme, exporters are provided refunds of duty paid on imported materials, used for manufacturing products meant for exports.
The government refunds around Rs 80 billion annually under the scheme.
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